Stratos Wealth Partners LTD. Invests $4.23 Million in Automatic Data Processing (ADP)

Stratos Wealth Partners LTD. purchased a new position in shares of Automatic Data Processing (NASDAQ:ADP) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 38,729 shares of the business services provider’s stock, valued at approximately $4,234,000.

Other large investors have also modified their holdings of the company. Proficio Capital Partners LLC boosted its stake in Automatic Data Processing by 1.8% during the 2nd quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock worth $111,000 after acquiring an additional 17 shares during the last quarter. Acrospire Investment Management LLC bought a new position in Automatic Data Processing during the 2nd quarter worth approximately $102,000. Grove Bank & Trust boosted its stake in Automatic Data Processing by 16.4% during the 2nd quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock worth $124,000 after acquiring an additional 170 shares during the last quarter. Family Capital Trust Co bought a new position in Automatic Data Processing during the 3rd quarter worth approximately $137,000. Finally, San Francisco Sentry Investment Group CA bought a new position in Automatic Data Processing during the 2nd quarter worth approximately $136,000. Institutional investors own 78.78% of the company’s stock.

Shares of Automatic Data Processing (NASDAQ ADP) opened at $118.19 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.51. The company has a market cap of $52,416.08, a price-to-earnings ratio of 31.60, a PEG ratio of 2.93 and a beta of 0.85. Automatic Data Processing has a 1 year low of $94.11 and a 1 year high of $121.77.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.06. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.06 billion. Automatic Data Processing had a net margin of 14.08% and a return on equity of 42.34%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 earnings per share. research analysts forecast that Automatic Data Processing will post 3.91 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 8th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Thursday, December 7th. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.57. Automatic Data Processing’s payout ratio is currently 64.12%.

Several research analysts recently weighed in on ADP shares. BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. BMO Capital Markets reduced their price objective on shares of Automatic Data Processing from $122.00 to $114.00 and set an “outperform” rating on the stock in a research note on Friday, November 3rd. Bank of America lifted their price objective on shares of Automatic Data Processing from $111.00 to $114.00 and gave the stock a “neutral” rating in a research note on Friday, October 13th. Morgan Stanley raised shares of Automatic Data Processing from an “underweight” rating to an “equal” rating and set a $114.00 price objective on the stock in a research note on Tuesday, November 14th. Finally, Evercore ISI reissued an “in-line” rating and set a $115.00 price objective on shares of Automatic Data Processing in a research note on Sunday, August 20th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $114.17.

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Automatic Data Processing Company Profile

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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